After London comes Beijing: US President Donald Trump announced a breakthrough in talks with China to put an end to their rapidly escalating tariff war on Wednesday night, though the details of the agreement remain unclear, and key elements are still awaiting formal approval.

"Our deal with China is done, subject to final approval with President Xi [Jinping] and me," Trump wrote on his social media platform, Truth Social. "Full magnets, and any necessary rare earths, will be supplied, up front, by China. Likewise, we will provide to China what was agreed to, including Chinese students using our colleges and universities (which has always been good with me!)"

One day later, the scope of the deal remains uncertain. Neither Trump nor US officials had clarified which tariffs might be lifted or what concessions were included, according to The Associated Press news agency. Negotiations appear to be ongoing.

Two months ago, Trump announced a blanket baseline 10% tariffs on virtually all goods imported into the US, an event he dubbed "Liberation Day." Higher country-specific rates followed, with Chinese imports hit particularly hard.

Beijing immediately retaliated with sharp increases of its own, sending bilateral tariffs soaring — peaking at........

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